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Ajeet and Baljeet are partners in a firm. Their capitals are 9,00,000 and 6,00,000 respectively. During the year ended 31st March, 2019 the firm earned a profit of 4,50,000. Assuming that the normal rate of return is 20%, calculate value of goodwill of the firm:
i By Capitalisation Method; and
ii By Super Profit Method if the goodwill is valued at 2 years' purchase of super profit.
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